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Reliance Capital gains after board approves independent listing of home finance business

Reliance Capital gains after board approves independent listing of home finance business

Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

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Betala Global Securities reports standalone net profit of Rs 0.01 crore in the September 2016 quarter
Nov 08,2016

Net profit of Betala Global Securities remain constant at Rs 0.01 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015. Sales remain constant at Rs 0.01 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.010.01 0 OPM %100.00100.00 - PBDT0.010.01 0 PBT0.010.01 0 NP0.010.01 0

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Kernex Microsystems (India) reports standalone net loss of Rs 4.59 crore in the September 2016 quarter
Nov 08,2016

Net Loss of Kernex Microsystems (India) reported to Rs 4.59 crore in the quarter ended September 2016 as against net loss of Rs 3.31 crore during the previous quarter ended September 2015. Sales declined 89.42% to Rs 0.51 crore in the quarter ended September 2016 as against Rs 4.82 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.514.82 -89 OPM %-645.10-52.49 - PBDT-3.89-2.67 -46 PBT-4.55-3.48 -31 NP-4.59-3.31 -39

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Apar Industries standalone net profit rises 82.20% in the September 2016 quarter
Nov 08,2016

Net profit of Apar Industries rose 82.20% to Rs 45.66 crore in the quarter ended September 2016 as against Rs 25.06 crore during the previous quarter ended September 2015. Sales rose 1.46% to Rs 1252.58 crore in the quarter ended September 2016 as against Rs 1234.58 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1252.581234.58 1 OPM %8.017.22 - PBDT80.0147.03 70 PBT69.5637.77 84 NP45.6625.06 82

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Cyber Media (India) reports standalone net loss of Rs 0.23 crore in the September 2016 quarter
Nov 08,2016

Net loss of Cyber Media (India) reported to Rs 0.23 crore in the quarter ended September 2016 as against net profit of Rs 0.10 crore during the previous quarter ended September 2015. Sales declined 35.28% to Rs 2.22 crore in the quarter ended September 2016 as against Rs 3.43 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2.223.43 -35 OPM %-24.320.58 - PBDT-0.590.46 PL PBT-0.810.17 PL NP-0.230.10 PL

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Jupiter Industries & Leasing reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 08,2016

Net Loss of Jupiter Industries & Leasing reported to Rs 0.01 crore in the quarter ended September 2016 as against net loss of Rs 0.01 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Mylan and Biocon announce USFDA Submission for proposed biosimilar Trastuzumab
Nov 08,2016

Mylan and Biocon announced submission of Mylans biologics license application (BLA) for MYL-1401O, a proposed biosimilar trastuzumab, to the U.S. Food and Drug Administration (FDA) through the 351(K) pathway. This product is a proposed biosimilar to branded trastuzumab, which is indicated to treat certain HER2-positive breast and gastric cancers. Mylan and Biocon believe that this has the potential to be the first submission of a proposed biosimilar trastuzumab in the U.S.

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Mahindra CIE Automotive allots equity shares
Nov 08,2016

Mahindra CIE Automotive announced that the Allotment Committee of Board of Directors of the Company vide its resolution passed on 08 November 2016 issued and allotted 5,013 Equity Shares of face value of Rs. 10/- pursuant to exercise of options by the eligible employees under the Companys Employees Stock Option Scheme, 2007. Consequent to the allotment the paid up capital of the Company has been increased from Rs. 3,780,832,520/- to Rs. 3,780,882,650/-.

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Geecee Ventures signs MoU with M Power Micro Finance
Nov 08,2016

Geecee Ventures has entered into a MoU with M Power Micro Finance to acquire up to 35% of the equity capital of M Power Micro Finance.

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Power Mech Projects intimates of work orders aggregating Rs 271.89 crore
Nov 08,2016

Power Mech Projects announced that its subsidiaries have received work orders aggregating Rs 271.89 crore in Oman and Saudi Arabia.

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Trigyn Technologies allots equity shares
Nov 08,2016

Trigyn Technologies announced about increase in Equity share capital of the Company on account of allotment of 25,000 Equity shares under The Trigyn Technologies Limited Employee Stock Option Plan- 2000 scheme of the Company.

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Rupee surges
Nov 08,2016

Rupee closed higher at 66.6099/6200 per dollar on Tuesday (08 November 2016), versus its previous close of 66.7350/7450 per dollar.

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Atlanta intimates of commencement of user fee collection
Nov 08,2016

Atlanta announced that Atlanta Ropar Tollways, a subsidiary, has got commercial operation permission to start user fee collection for rehabilitation, upgradation and widening of the existing carriageway of Ropar-Chamkaur Sahib- Neelon section in the State of Punjab at a contract price of Rs 253.44 crore. The user fee collection shall commence from 09 November 2016.

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MOU on Defence Salary Package Signed between Indian Army and Corporation Bank
Nov 08,2016

Memorandum of Understanding (MoU) was signed between the Indian Army and Corporation Bank on the Defence Salary Package today. The signing ceremony was chaired by the Adjutant General, Lt Gen Rakesh Sharma, and was attended by top officials of Corporation Bank headed by Gopal Murli Bhagat, Executive Director.

The MoU is tailor made to suit the requirements of serving soldiers, pensioners and families and includes free / concessional services including free drafts, free cheque books, free funds transfers to any bank in India through RTGS / NEFT, free ATM cards, Unlimited transactions on all ATMs including that of other Banks. Some important features of the MoU include Personal Accident Insurance Cover of Rs 5 & 10 lacs, Air Insurance Cover of Rs 5 to 50 lacs and Term Life Insurance Cover of Rs 5 & 10 lacs. All the facilities are also extended to the pensioners except Term Life Insurance Cover.

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Mindtree opens a Salesforce Center-of-Excellence
Nov 08,2016

Mindtree announced the opening of a Salesforce Center-of-Excellence in Munich, Germany. This facility is anchored by Magnet 360, a Salesforce Platinum Partner and a wholly-owned subsidiary of Mindtree.

Mindtree and Magnet 360 have a dedicated team of Salesforce consultants at the Munich Center-of Excellence, providing Mindtree and Magnet 360 clients in Europe with end-to-end Salesforce expertise forconsulting, development, delivery and support. The scope of capability for the new location spans the full range of the Salesforce Customer Success Platform, including Sales Cloud, Service Cloud, Community Cloud, Marketing Cloud and more.

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Muthoot Finance hikes stake in Belstar Investment and Finance
Nov 08,2016

Muthoot Finance has further acquired 24 lakh equity shares of Rs 10 each of Belstar Investment and Finance at a total price of Rs 8.4 crore.

With this investment, the Company has completed the acquisition of 57.16% stake of Belstar Investment and Finance and accordingly, it has become at subsidiary of Muthoot Finance.

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